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(Discounted payback period) Assuming an appropriate discount rate of 9 percent, what is the discounted payback period on a project with an initial outlay of

(Discounted payback period) Assuming an appropriate discount rate of 9 percent, what is the discounted payback period on a project with an initial outlay of $100,000 and the following cash flows?
Year 1 =$20,000
Year 2=$25,000
Year 3=$40,000
Year 4=$25,000
Year 5 =$20,000
Year 6 =$35,000
The project's discounted payback period is years?

*Round to the nearest 2 decimal points and pease show your work, so I'll know for future questions.

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